Caleres Reaffirms FY23 Outlook

(RTTNews) - Caleres, (CAL), Monday reaffirmed its financial outlook for full year 2023.

"Caleres continues to expect full year 2023 adjusted earnings of $4.10 to $4.20 per share, which would mark the third consecutive year with earnings per share in excess of our $4.00 baseline," said Jay Schmidt, president and chief executive officer. "Our ability to deliver results ahead of expectations throughout the year and to maintain our earnings outlook, despite a challenging demand environment, underscores yet again the powerful transformation we've achieved in the earnings profile of the organization. As we look ahead to 2024, we are focused on executing on our strategic plan to drive long-term value for our shareholders, creating exceptional products and experiences for our consumers, and managing our costs rigorously."

Caleres continues to see sales to be down 4.5 percent to 5.5 percent compared to fiscal 2022, including the impact of the 53rd week, earnings per share of $3.96 to $4.06 and adjusted earnings per share of $4.10 and $4.20.